August 3, 2020

US manufacturing rebounds in July but job losses continue: survey

Washington (AFP) – US manufacturing continued to recover in July and demand jumped compared to June but firms are still shedding jobs, according to an industry survey released Monday.The Institute for Supply Management’s (ISM) manufacturing index jumped to 1.6 points to 54.2 percent, the highest in a year and beating the consensus.Of the 18 manufacturing industries, 13 reported growth last month.”In July, manufacturing continued its recovery after the disruption caused by the coronavirus (COVID-19) pandemic. Panel sentiment was generally optimistic” with two positive comments received for ever…


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